3246 Summerdale Ln #34 · Columbus, OH 43221

$189,900

2 bd · 1.5 ba · 1,152 sqft · Condo public records · 194 Days on market

Built 1978 $165/sqft · at area comps Est $192k · at est. $315/mo HOA · 16% of rent

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +10.9/30.0
• ARV discount +8.0/15.0
• 1% rule +5.5/10.0
• Schools +5.3/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• DSCR +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this beautifully updated 2-bedroom, 1.5-bath condo in a prime central location! The modern kitchen features granite countertops, stainless steel appliances, and brand-new fridge and range. A washer and dryer convey for added convenience. Enjoy your own private, fenced patio, perfect for relaxing or entertaining, plus a dedicated carport for covered parking. Inside, you'll find two spacious bedrooms, BRAND NEW windows throughout, and a comfortable layout ideal for everyday living. Situated close to the Quarry Metro Park, Grandview, Upper Arlington, Downtown, and Hilliard, with Hilliard Schools, this condo offers unbeatable convenience and connectivity. Move-in ready and packed with updates—don't miss it!

Key facts

• Private fenced patio
• Modern kitchen
• Granite countertops

Tags

• MODERN KITCHEN
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• PRIVATE FENCED PATIO
• DEDICATED CARPORT
• BRAND NEW WINDOWS

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $190k.

Deal economics

• At list price, monthly cash flow is $-82 ($-988/yr) — negative.
• To cash-flow at today's rent, offer at most $175k (7.7% below list).
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.8% vs local median 3.8% in Columbus — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 81/100 on livability (#97 in OH, #1,491 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, crime F.
• Hilliard City (suburban): math 57% / reading 62% proficiency, ranked #246 of 656 in OH (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Zoned schools: Ridgewood Elementary School (math 59% / reading 63%, grade B, #652 of 1,584 statewide, top 41%, 602 students, 17% FRL); Hilliard Weaver Middle School (math 65% / reading 65%, grade A-, #194 of 654 statewide, top 31%, 880 students, 25% FRL); Hilliard Davidson High School (math 51% / reading 66%, grade C, #265 of 781 statewide, top 34%, 1,891 students, 20% FRL) — zoned schools at 21% FRL track the district average.
• Market conditions: Rents rising (+3.5%/yr); 61 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 8,139 units permitted in Franklin County in 2024 (5,940 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Franklin County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 194 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $62k; list at $190k implies a 206% gain — meaningful room to come down on a strong offer.

Recommended offer $167,112 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 194 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
11. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.05% ✓
• Cap rate: 5.77%
• Cash-on-cash: -1.86%
• DSCR: 0.92
• GRM: 7.9

CMA / ARV

• ARV (median comp): $191,864
• List price: $189,900
• Delta: -1.02%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.5% rent growth · sell at horizon

5-year hold

• IRR: -18.5%
• Equity multiple: 0.35×
• Total profit: $-34,761
• Equity at exit: $28,315

10-year hold

• IRR: -9.4%
• Equity multiple: 0.40×
• Total profit: $-31,846
• Equity at exit: $16,419

Cash invested: $53,172 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 73 Landlord-Friendly
• State Ohio: 73 Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

3-day notice; Cleveland / Columbus have some habitability code enforcement; otherwise landlord-leaning.

Methodology + full state rankings →

ZIP-level market 43221

• Rents YoY: 3.5%
• Active inventory: 61
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,996 high
• Mortgage (P&I): −$996
• Tax from tax record: −$269 /mo · $3,233/yr
• Insurance: −$79
• HOA: −$315
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $-82

Break-even live

Break-even rent $2,100

Max offer price $175,361

Occupancy floor 99%

Sensitivity live

Price	-10% $25	-5% $-29	+0% $-82	+5% $-136	+10% $-190
Rent	-10% $-240	-5% $-161	+0% $-82	+5% $-3	+10% $75
Rate	-1.0pp $13	-0.5pp $-34	base $-82	+0.5pp $-132	+1.0pp $-182

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3427 Fishinger Mill Dr Unit 3427 Hilliard, OH	1.0	1.0	912	$1,450	$1.59	45d	1	0.58mi
3616 Hogans Run Rd Columbus, OH	2.0	1.0	576	$1,220	$2.12	4d	6	0.59mi
3429 Eastwoodlands Trl Unit 3429 Hilliard, OH	2.0	2.5	1433	$2,095	$1.46	19d	1	0.62mi
3429 Eastwoodlands Trl Unit 3429 Hilliard, OH	2.0	2.5	1433	$2,095	$1.46	25d	1	0.62mi
3280 Mill Run Dr Hilliard, OH	1.0–2.0	1.0–2.5	1064	$2,458	$2.31	3d	13	0.71mi
2746 Shrewsbury Rd Columbus, OH	3.0	1.5	1451	$2,900	$2.00	5d	1	0.91mi
2635 Woodstock Rd Columbus, OH	3.0	1.0	1236	$2,300	$1.86	45d	1	0.99mi
2636 Nottingham Rd Columbus, OH	3.0	1.5	1224	$2,130	$1.74	45d	1	1.01mi
2565 Riverside Dr Unit 2599-3D Columbus, OH	2.0	1.0	896	$1,215	$1.36	45d	1	1.35mi
2565 Riverside Dr Unit 2599-4H Columbus, OH	2.0	1.0	896	$1,330	$1.48	45d	1	1.35mi
2211 Dublin Rd Columbus, OH	1.0–2.0	1.0–2.0	830	$1,860	$2.24	3d	13	1.39mi

HOA detail condo

• Monthly dues: $315 · $3,780/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-21
   days on market $189,900 Active 194 DOM
2. 2026-06-18
   days on market $189,900 Active 191 DOM
3. 2026-06-17
   days on market $189,900 Active 190 DOM
4. 2026-06-16
   days on market $189,900 Active 189 DOM
5. 2026-06-15
   days on market $189,900 Active 188 DOM
6. 2026-06-13
   days on market $189,900 Active 186 DOM
7. 2026-06-09
   days on market $189,900 Active 182 DOM
8. 2026-06-08
   days on market $189,900 Active 181 DOM
9. 2026-06-07
   days on market $189,900 Active 180 DOM
10. 2026-06-05
    days on market $189,900 Active 177 DOM
11. 2026-06-03
    days on market $189,900 Active 176 DOM
12. 2026-06-02
    days on market $189,900 Active 175 DOM
13. 2026-06-01
    days on market $189,900 Active 174 DOM
14. 2026-05-31
    days on market $189,900 Active 173 DOM
15. 2026-05-15
    price $189,900 734-char remark

    Show marketing remark (734 chars)

    Welcome home to this beautifully updated 2-bedroom, 1.5-bath condo in a prime central location! The modern kitchen features granite countertops, stainless steel appliances, and brand-new fridge and range. A washer and dryer convey for added convenience. Enjoy your own private, fenced patio, perfect for relaxing or entertaining, plus a dedicated carport for covered parking. Inside, you'll find two spacious bedrooms, BRAND NEW windows throughout, and a comfortable layout ideal for everyday living. Situated close to the Quarry Metro Park, Grandview, Upper Arlington, Downtown, and Hilliard, with Hilliard Schools, this condo offers unbeatable convenience and connectivity. Move-in ready and packed with updates—don't miss it!

16. 2025-12-09
    listed $199,900 Active 734-char remark

    Show marketing remark (734 chars)

    Welcome home to this beautifully updated 2-bedroom, 1.5-bath condo in a prime central location! The modern kitchen features granite countertops, stainless steel appliances, and brand-new fridge and range. A washer and dryer convey for added convenience. Enjoy your own private, fenced patio, perfect for relaxing or entertaining, plus a dedicated carport for covered parking. Inside, you'll find two spacious bedrooms, BRAND NEW windows throughout, and a comfortable layout ideal for everyday living. Situated close to the Quarry Metro Park, Grandview, Upper Arlington, Downtown, and Hilliard, with Hilliard Schools, this condo offers unbeatable convenience and connectivity. Move-in ready and packed with updates—don't miss it!

17. 2014-11-07
    soldstatus $62,000 294-char remark

    Show marketing remark (294 chars)

    Move in ready condo with lots of updates including new kitchen with granite, new baths with granite, ceramic tile floors, Wooded area, very private, Hilliard Schools- Columbus tax! Laminate floors, laundry includes washer/dryer. Neutral colors throughout. Private patio . Carport. FHA approved.

18. 2014-10-06
    historical 294-char remark

    Show marketing remark (294 chars)

    Move in ready condo with lots of updates including new kitchen with granite, new baths with granite, ceramic tile floors, Wooded area, very private, Hilliard Schools- Columbus tax! Laminate floors, laundry includes washer/dryer. Neutral colors throughout. Private patio . Carport. FHA approved.

19. 2014-08-05
    listed $64,000 294-char remark

    Show marketing remark (294 chars)

    Move in ready condo with lots of updates including new kitchen with granite, new baths with granite, ceramic tile floors, Wooded area, very private, Hilliard Schools- Columbus tax! Laminate floors, laundry includes washer/dryer. Neutral colors throughout. Private patio . Carport. FHA approved.

20. 2012-07-05
    soldstatus $59,000
21. 2005-04-27
    soldstatus $75,500
22. 2000-05-23
    soldstatus $60,000
23. 1997-09-16
    soldstatus $49,000
24. 1994-10-04
    soldstatus $44,500
25. 1983-10-01
    soldstatus $43,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast OH · Partial reset (capped growth)

• Current annual tax: $3,233 · $269/mo
• Projected year-2 tax: $3,233 · $269/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,956
• − Mortgage interest: −$10,637
• − Property taxes: −$3,233
• − Insurance: −$950
• − Repairs & maintenance: −$1,916
• − Management: −$1,916
• − HOA: −$3,780
• − Depreciation: −$5,524
• Taxable loss: −$4,001
• Est. tax savings @ 24.0%: +$960
• After-tax cash flow: $-27/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Hilliard City
• NCES district ID: 3904701
• Math proficiency: 57% ▼ -14.00%
• Reading proficiency: 62% ▼ -6.00%
• Median HH income: $77,944
• Composite: 53.32/100
• National rank: #1479
• State rank: #246 of 656 in OH

Livability — Columbus

• Score: 81/100
• State rank: #97
• US rank: #1491

Category grades

Amenities A- Commute A+ Cost of living A+ Crime F Employment C- Housing A+ Health & safety A- User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Columbus, OH
• County: Franklin County · 1,351,780 people
• City population: 612,189
• Metro: Columbus, OH
• Population (ZIP): 35,293
• Household income: $118,768
• Rent vs Own: 30.8% rent · 69.2% own
• Severe rent burden: 450.0

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 1,456,139 people
• By 2030: 1,556,890 · +6.9%
• By 2040: 1,757,349 · +20.7%
• By 2050: 1,950,539 · +34.0%
• By 2075: 2,376,171 · +63.2%
• By 2100: 2,636,796 · +81.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Asian 6% Two or more races 6% Hispanic / Latino 3% Black 3%
• Common ancestry: Slovak 4% Italian 3% Romanian 3%
• Foreign-born: 8% · China, Canada
• Languages at home: 92% English-only · Other Indo-European 2% Chinese 2% Spanish 1%

Political lean MEDSL · Franklin

• 2024 margin: Strong D (+28.4) · D 63.7% · R 35.3% · Other 1.0%
• 2008→2024 swing: +7.7pp toward D · 2008: 20.7pp · 2024: 28.4pp
• All cycles: 2024: D+28.4 2020: D+31.4 2016: D+25.9 2012: D+21.7 2008: D+20.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -445.67%
• Current HPI: 271.8826
• Rent YoY: ▲ 3.50%
• Metro: Columbus, OH
• State GDP YoY: ▲ 1.98%
• F500 in state: 48

Industry mix (Fortune 500 HQ in OH)

Industry	F500 HQs	Revenue
▸Insurance	3	$145B
▸Industrial Machinery	3	$49B
▸Financial Services	3	$24B
▸Consumer Goods	2	$93B
▸Aerospace / Defense	2	$47B
▸Utilities	2	$33B

Price history

+332.6% since first listed

11 events — show timeline

• 2026-05-15 Price Changed $189,900 CBRMLS
• 2025-12-09 Listed $199,900 CBRMLS
• 2014-11-07 Sold (MLS) $62,000 CBRMLS
• 2014-10-06 Listing Removed — CBRMLS
• 2014-08-05 Listed $64,000 CBRMLS
• 2012-07-05 Sold (Public Records) $59,000 Public Records
• 2005-04-27 Sold (Public Records) $75,500 Public Records
• 2000-05-23 Sold (Public Records) $60,000 Public Records
• 1997-09-16 Sold (Public Records) $49,000 Public Records
• 1994-10-04 Sold (Public Records) $44,500 Public Records
• 1983-10-01 Sold (Public Records) $43,900 Public Records

Property tax history

+7.8%/yr

Latest (2024): $3,233 · +15.0% YoY. Source: county tax records.